Orsted and Danish pension funds PKA and PFA have signed an agreement for the sale of the transmission assets for the 659MW Walney 3 offshore wind farm in the Irish Sea to Diamond Transmission Partners Walney Extension.
The assets are valued at £447m (€502m) and include the onshore substation, export cables and the offshore substations, said Orsted.
Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission Corporation – a wholly owned subsidiary of Mitsubishi Corporation – HICL Infrastructure Company and Chubu Electric Power.
Orsted said the divestment takes place in accordance with the offshore transmission owner (OFTO) regime.
Ofgem selected Diamond Transmission Partners Walney Extension as preferred bidder in March 2019 for the Walney 3 transmission licence.
Walney 3 comprises 40 8MW MHI Vestas and 47 7MW Siemens Gamesa turbines.
Orsted owns 50% of the project, with PKA and PFA owning 25% each.